Harbert Fund Advisors Inc. Invests $703,000 in Perimeter Solutions, SA (NYSE:PRM)

Harbert Fund Advisors Inc. acquired a new stake in Perimeter Solutions, SA (NYSE:PRM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 55,000 shares of the company's stock, valued at approximately $703,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PRM. Vanguard Group Inc. boosted its holdings in shares of Perimeter Solutions by 136.8% during the fourth quarter. Vanguard Group Inc. now owns 8,211,593 shares of the company's stock worth $104,944,000 after acquiring an additional 4,744,069 shares during the period. Corient Private Wealth LLC acquired a new position in shares of Perimeter Solutions during the 4th quarter worth $41,780,000. JPMorgan Chase & Co. raised its stake in Perimeter Solutions by 19.9% during the fourth quarter. JPMorgan Chase & Co. now owns 5,856,611 shares of the company's stock worth $74,847,000 after acquiring an additional 971,623 shares in the last quarter. Bessemer Group Inc. lifted its stake in Perimeter Solutions by 10,103.3% in the 4th quarter. Bessemer Group Inc. now owns 923,811 shares of the company's stock valued at $11,806,000 after purchasing an additional 914,757 shares during the last quarter. Finally, Catawba River Capital acquired a new stake in shares of Perimeter Solutions during the 4th quarter valued at $7,658,000. 89.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Perimeter Solutions

In related news, Director Vivek Raj sold 250,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $9.17, for a total value of $2,292,500.00. Following the completion of the transaction, the director now directly owns 471,226 shares of the company's stock, valued at approximately $4,321,142.42. This trade represents a 34.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.70% of the company's stock.

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Perimeter Solutions Stock Down 0.6 %

Shares of NYSE PRM traded down $0.06 during midday trading on Tuesday, hitting $9.93. 718,978 shares of the stock traded hands, compared to its average volume of 906,853. Perimeter Solutions, SA has a one year low of $6.84 and a one year high of $14.44. The business has a 50 day moving average price of $10.16 and a two-hundred day moving average price of $12.00. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.95 and a current ratio of 3.91. The company has a market cap of $1.49 billion, a PE ratio of -70.89 and a beta of 1.88.

Perimeter Solutions (NYSE:PRM - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.21. Perimeter Solutions had a negative return on equity of 7.62% and a negative net margin of 1.05%. The firm had revenue of $86.23 million for the quarter, compared to the consensus estimate of $77.01 million. On average, equities analysts predict that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Wall Street Analyst Weigh In

Separately, UBS Group upgraded shares of Perimeter Solutions from a "neutral" rating to a "buy" rating and set a $14.00 price target on the stock in a report on Wednesday, March 26th.

Perimeter Solutions Profile

Perimeter Solutions, SA manufactures and supplies firefighting products and lubricant additives in the United States, Germany, and internationally. It operates in two segments, Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services for federal, state, provincial, local/municipal, and commercial customers.